FONT-SIZE Plus   Neg

Roche Says Its $51 Per Share Offer For Illumina Is Full And Extremely Attractive

Swiss drugmaker Roche (RHHBY.PK) issued statement regarding its pending offer for Illumina, Inc. (ILMN).

Roche stated that it continues to believe that on the basis of the public information that has been available to the company, its offer price of $51 per share is full, fair and extremely attractive by every conceivable financial metric. Further, to date, Illumina has not provided any quantitative support for their aggressive growth assumptions. Roche also believes that their long term growth expectations are unrealistic and ignore the inherent and significant market and technology risks.

In late January, Roche began a tender offer to buy all shares of Illumina for $44.50 per share in cash. The offer was raised to $51.00 per share in cash on March 29.

Severin Schwan, chief executive officer of Roche Group, said, "As we have said earlier, if Illumina were to engage with us, we would consider any information supporting Illumina's contention that our offer undervalues the company and its prospects. However, because Illumina has refused to enter into negotiations with us, our current analysis is by necessity based solely on publicly available information, and that information does not justify a price in excess of $51 per share. Our goal has always been to enter into a negotiated transaction with Illumina and we firmly believe that our present offer is more than adequate to serve as a basis to begin that negotiation with Illumina."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Apple confirmed that it has bought face animation software firm Faceshift, although it was tight lipped about how it intends to use the new addition. The move is speculated as a bid to expand into virtual reality. Environment ministry of South Korea Thursday ordered Volkswagen Korea to recall 125,522 diesel vehicles on determining actual emissions of nitrogen oxides. The ministry has asked the German automobile maker to pay a fine of 14.1 billion Won or $12.31 million. The company has to submit a recall plan by January 6, 2016. The U.S. Food and Drug Administration has alerted health care professionals and patients of a voluntary recall of compounded multivitamin capsules containing high amounts of Vitamin D3 (Cholecalciferol), distributed nationwide by Glades Drugs in Pahokee, Florida. FDA has received reports of several...
comments powered by Disqus
Follow RTT